The AUD/USD is staying in a trading range between 0.9528 and 0.9791. Key resistance is now at 0.9791. As long as this level holds, the price action in the range could be treated as consolidation of the downtrend from 1.0582 (April 11 high). One more fall to 0.9300 area is still possible after consolidation. On the upside, a break above 0.9791 resistance will indicate that a lengthier consolidation of the downtrend is underway, then a further rise to 0.9850 – 0.9900 area could be seen.